SingPost, Qxpress, TaQbin, Lalamove. These are just some of the many courier services in Singapore. For the online shopaholics, you’ll probably already be familiar with them!
With the advancements in technology, most of us would have had a go at online shopping. To take things up a notch, we would probably also have sold our items on online marketplaces such as Carousell or Gumtree.
Regardless of whether one is a buyer or seller, they’ll need couriers that are prompt and discreet, with a good customer support system and with a very low rate of delivering damaged goods. A courier/ parcel delivery business in Singapore can become extremely profitable. That said, you’ll have to differentiate yourself from the competition and gain notoriety, which is sometimes easier said than done.
At SBL Singapore, we have done extensive market research in the last decade since we’ve been helping local businesses thrive. We know the plights of having a courier service and we know how the industry’s outlook has changed in the last few years.
To become successful in this area, you’ll need to invest in technology for route-optimization and real-time tracking. You will also need to invest in a high-grade logistics service, which demands various software and high-tech equipment as well.
You can make an impact with quality packaging, though that can cost you more at the beginning. Customer engagement via social media or live chat updates adds to your budget too, not to mention marketing campaigns you’ll need.
Another strategy to stand out is to offer people accident insurance, but that also adds to your budget even if it allows you to set bigger prices on your courier services.
You can also lower your prices, but that might not bring you a profit, especially because other reputable courier services in Singapore already practice low fees.
A few years ago we at SBL Singapore helped Mr Thomas Lau with his courier business. He was new on the market, and he couldn’t sustain his business by practising very low prices. He also couldn’t get top packaging or offer insurance.
But Mr Lau intuited that technology is the future, and it’s what helped him build his unique selling proposition. He invested in an IT team that helped him devise an app for quick orders, booking drivers, and real-time tracking.
Mr Lau’s app gained quick popularity among young professionals and he could build a reliable database of clients, which he later extended through other policies, including bike delivery, instant delivery, and insurance.
We at Loan Street Singapore can also help you differentiate your business from the competition and turn more profit with our customizable Courier/ Parcel Delivery Business Loans. These loans help you cover expenses such as:
- Reliable vehicles
- Storage space
- Office supplies
- Equipment and Materials (phones, two-way radios, GPS, etc.)
- AI (customer assistance, chatbots, apps, real-time tracking)
- Recurring expenses (petrol, lighting, cleaning, etc.)
- Business insurances
- Registration taxes
- Marketing and advertising campaigns, including an official website
Launched in February 2018, SBL Singapore aims to provide financial assistance to all companies including those in the Courier / Parcel Delivery Business industry. We also gather mentors in the hotel and tourism sector through our Coach-and-Go programme for our clients to attain more information and knowledge on business management. Our objective is to help local Singapore brands grow and enter the overseas market.
With a Courier / Parcel Delivery Business Loan, you pay for an inexpensive and reasonable rate of interest on monthly repayments, ensuring that you have enough capital to remain competitive and grow your business. In addition to funding, you will also obtain the mentor-ship and operation assistance that you require.
- Max Loan Amount$1,000,000
- Min Years to Qualify0.5
- Min. Annual Turnover< $100,000